EAGLE FINANCIAL SERVICES INC

Listed Company

EFSICIK 0000880641NasdaqAcceleratedSmaller ReportingState Commercial BanksVirginiaFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$8.21M

Total Assets

$1.89B

Equity

$188.84M

Shares Out

5.41M

Op. Cash Flow

$25.75M

Business

Eagle Financial Services Inc is a bank holding company that conducts operations through its subsidiary, Bank of Clarke, providing commercial banking services. The company offers retail and commercial banking products and services including demand, savings and time deposit accounts, consumer, mortgage and commercial loans, ATM and debit card access, telephone, internet and mobile banking, online bill pay, ACH origination and remote deposit capture. Key business activities include the Bank of Clarke Wealth Management division (trust and brokerage services), participation in title and insurance ventures, and investments in qualified affordable housing projects. Distribution occurs through thirteen full-service branches, loan production and wealth offices, a drive-through facility, ATMs and digital channels across the Shenandoah Valley, Northern Virginia and Frederick, Maryland.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	82	82	76	51	40
Taxable interest income	4	3	3	3	2
Interest income exempt from federal income taxes	3,000	16,000	16,000	221,000	419,000
Dividends	388,000	630,000	523,000	109,000	45,000
Interest on deposits in banks	12	6	4	352,000	69,000
Interest on federal funds sold	235,000	123,000	160,000	30,000	—
Total interest and dividend income	99	91	83	55	43
Interest on deposits	32	32	24	3	2
Interest on Federal Home Loan Bank advances	3	7	8	—	—
Interest on subordinated debt	1	1	1	1	—
Total interest expense	36	40	33	—	—
Net interest income	63	51	50	49	41
Provision for credit losses	4	3	2	—	—
Net interest income after provision for credit losses	59	49	49	47	40
Wealth management fees	7	6	5	—	—
Service charges on deposit accounts	2	2	2	2	1
Other service charges and fees	4	4	4	4	4
(Loss) gain on the sale and disposal of bank premises and equipment	−19,000	4	—	—	—
(Loss) on sale of securities	−12	0	—	—	—
Gain on sale of loans	3	2	1	2	2
Small business investment company income	251,000	1	385,000	—	—
Bank owned life insurance income	1	2	713,000	626,000	527,000
Other operating income	812,000	476,000	656,000	2	881,000
Total noninterest income	7	22	15	13	11
Salaries and employee benefits	33	30	30	26	22
Occupancy expenses	3	2	2	2	2
Equipment expenses	2	2	1	1	959,000
Advertising and marketing expenses	861,000	1	1	770,000	408,000
Stationery and supplies	134,000	145,000	191,000	199,000	155,000
ATM network fees	1	2	2	1	1
Other real estate owned expense	20,000	0	5,000	34,000	41,000
Loss on sale of other real estate owned	51,000	0	−7,000	0	201,000
Loss on the sale of repossessed assets	302,000	204,000	0	—	—
FDIC assessment	948,000	1	2	614,000	606,000
Computer software expense	1	1	1	960,000	996,000
Bank franchise tax	2	1	1	886,000	781,000
Professional fees	2	2	3	2	4
Data processing fees	2	2	2	2	2
Loan servicing expense	1	1	—	—	—
Other operating expenses	6	5	7	6	4
Total noninterest expenses	56	51	53	43	38
Income before income taxes	10	19	11	18	13
Income Tax Expense	2	4	1	3	2
Net Income (Loss)	8	15	9	15	11
Net income per common share, basic	1.59	4.32	2.66	4.17	3.2
Net income per common share, diluted	1.59	4.32	2.66	4.17	3.2

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	14	13	15	17	15
Interest-bearing deposits with other institutions	104	163	97	50	49
Federal funds sold	99	17	26	363,000	228,000
Total cash and cash equivalents	217	193	138	67	64
Securities available for sale, at fair value	120	121	137	149	192
Restricted investments	4	8	10	9	1
Loans held for sale	5	3	2	153,000	876,000
Loans	1,473	1,467	1,463	—	—
Allowance for credit losses	−15	−15	−14	—	—
Net Loans	1,458	1,452	1,448	—	—
Bank premises and equipment, net	15	14	18	18	18
Bank owned life insurance	32	31	30	24	23
Other assets	39	45	43	37	26
Total assets	1,889	1,866	1,826	1,617	1,303
Noninterest bearing demand deposits	432	406	437	479	470
Savings and interest bearing demand deposits	729	679	656	627	583
Time deposits	447	490	413	158	124
Total deposits	1,607	1,575	1,506	1,264	1,177
Federal Home Loan Bank advances, short-term	0	25	20	175	0
Federal Home Loan Bank advances, long-term	40	95	145	0	—
Subordinated debt, net of unamortized issuance costs	30	30	29	29	0
Other Liabilities	23	23	16	14	16
Total liabilities	1,700	1,747	1,717	1,515	1,193
Commitments and Contingencies	—	—	—	—	—
Preferred stock, $10 par value; 500,000 shares authorized and unissued	0	0	0	0	0
Common stock, $2.50 par value; authorized 10,000,000 shares; issued and outstanding 2025, 5,374,205 including 68,476 shares of unvested restricted stock; issued and outstanding 2024, 3,549,581 including 64,043 shares of unvested	13	9	9	9	9
Surplus	65	15	14	13	12
Retained earnings	116	114	103	100	90
Accumulated other comprehensive (loss)	−5	−19	−18	−20	−155,000
Total shareholders equity	189	119	108	102	110
Total liabilities and shareholders equity	1,889	1,866	1,826	1,617	1,303

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation	780,000	979,000	1	979,000	996,000
Amortization of other assets	338,000	564,000	988,000	931,000	672,000
Origination of loans held for sale	−95	−74	−42	−14	−19
Proceeds from sale of loans held for sale	96	75	41	15	19
Net (gain) on sales of loans	−3	−2	−1	−2	−2
(Gain) on sale of portfolio loans	−5,000	0	—	—	—
Amortization of subordinated debt issuance costs	67,000	67,000	67,000	51,000	—
Stock-based compensation expense	1	912,000	1	1	850,000
(Accretion) amortization of premiums and discounts on debt securities and loans, net	−670,000	258,000	—	—	—
Bank owned life insurance income	−1	−1	−713,000	−626,000	−527,000
(Gain) on bank-owed life insurance settlement	0	−907,000	0	—	—
Deferred tax accrual	221,000	600,000	−2	−86,000	−1
Decrease in other assets	1	3	−5	−5	6,000
Increase in other liabilities	1	1	1	−706,000	4
Net cash provided by operating activities	26	19	7	14	16
Proceeds from maturities, calls, and principal payments of securities available for sale	23	20	14	28	52
Proceeds from the sale of securities available for sale	87	0	0	15	16
Purchases of securities available for sale	−103	−5	0	−27	−101
Proceeds from the sale of restricted investments	4	4	5	0	222,000
Purchase of restricted investments	−44,000	−2	−5	−8	−4,000
Proceeds from bank-owned life insurance settlement	0	935,000	0	—	—
Proceeds from the sale of bank premises and equipment	40,000	8	39,000	33,000	—
Purchases of bank premises and equipment	−1	−1	−1	−838,000	−520,000
Proceeds from the sale of other real estate owned	254,000	0	115,000	0	672,000
Proceeds from the sale of repossessed assets	1	112,000	0	—	—
Changes in collateral posted with other financial institutions, net	0	−400,000	0	−700,000	—
Proceeds from the sale of portfolio loans	19	0	52	156	100
Origination of loans, net of prinicpal collected	−30	−7	−243	−493	—
Funding of capital commitments related to other investments	−492,000	−664,000	−922,000	−761,000	−2
Net cash (used in) provided by investing activities	−965,000	17	−130	−331	−193
Net increase (decrease) in demand deposits, money market and savings accounts	75	−8	−13	53	169
Net (decrease) increase in certificates of deposit	−43	76	255	34	−5
Net (decrease) increase in short-term Federal Home Loan Bank advances	−25	5	−155	—	—
Repayment) of long-term Federal Home Loan Bank advances	−55	−50	145	—	—
Net proceeds from issuance of common stock in public offering	54	0	—	—	—
Repurchase and retirement of common stock	−348,000	−237,000	−302,000	−154,000	−149,000
Cash dividends paid	−6	−4	−4	−4	−3
Net cash (used in) provided by financing activities	−754,000	19	195	320	161
Increase in cash and cash equivalents	24	55	71	3	−16
Interest	37	40	31	5	2
Income taxes	2	80,000	2	4	3
Unrealized (loss) gain on securities available for sale	17	−791,000	3	−26	−4
Minimum postretirement liability adjustment	−10,000	−11,000	−8,000	0	—
Real estate and repossessed assets acquired in settlement of loans	2	525,000	304,000	108,000	266,000
Lease liabilities arising from right-of-use assets	773,000	5	0	—	—

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